RBC Bearings Incorporated (NYSE:RBC) is Wasatch Advisors LP's 7th Largest Position

Wasatch Advisors LP lessened its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,520,719 shares of the industrial products company's stock after selling 6,861 shares during the quarter. RBC Bearings comprises approximately 2.3% of Wasatch Advisors LP's holdings, making the stock its 7th biggest holding. Wasatch Advisors LP owned approximately 4.84% of RBC Bearings worth $454,908,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RBC. R Squared Ltd bought a new position in RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC acquired a new position in shares of RBC Bearings in the fourth quarter worth $38,000. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in RBC Bearings in the 4th quarter worth $82,000. Finally, Venturi Wealth Management LLC grew its position in RBC Bearings by 2,405.3% in the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after purchasing an additional 457 shares during the last quarter.

Insider Activity

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares of the company's stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock worth $3,963,031 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on RBC shares. Morgan Stanley raised their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Truist Financial dropped their price target on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, KeyCorp upped their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, RBC Bearings has an average rating of "Moderate Buy" and an average target price of $354.20.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $8.66 during trading on Monday, hitting $313.02. 17,508 shares of the stock traded hands, compared to its average volume of 161,293. The firm's fifty day moving average is $339.89 and its 200-day moving average is $322.60. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 43.00, a PEG ratio of 4.42 and a beta of 1.60.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.